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21-07-2010: Pantec Biosolutions AG announced the closing of a CHF 20 million investment achieved by two financing rounds. The StemCell Holding AG, an Austrian investment company in the life sciences sector, acted as lead investor. No further terms were disclosed.
The investment strengthens Pantec’s financial position and paves the way for the next strategic steps in Pantec´s development. The money raised in this financing round will be used to drive the development of P.L.E.A.S.E.® IVF, i.e. the Company’s two proprietary transdermal hormone patch candidates in combination with P.L.E.A.S.E. (Painless Laser Epidermal System) for In-Vitro Fertilisation (IVF) therapy, up to market approval and to further fund the market launch of their new P.L.E.A.S.E.® Professional product line for dermatology applications.
Following this successful financing round, Pantec will also add two new members to the Company’s Board of Directors: Dr. Manfred Asamer, CEO of Asamer Holding AG and Dr. Werner Lanthaler, the current CEO of Evotec and the ex-CFO of Intercell.
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Pantec Biosolutions Closes CHF 20 Million Financing
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